StockNews.com Begins Coverage on WidePoint (NYSEAMERICAN:WYY)

StockNews.com initiated coverage on shares of WidePoint (NYSEAMERICAN:WYY) in a report published on Wednesday. The brokerage issued a sell rating on the technology company’s stock.

WidePoint Stock Down 1.0 %

WYY opened at $1.96 on Wednesday. The firm has a market capitalization of $17.33 million, a PE ratio of -4.26 and a beta of 1.33. The company has a fifty day moving average of $1.85. WidePoint has a 12-month low of $1.60 and a 12-month high of $3.49.

WidePoint (NYSEAMERICAN:WYY) last issued its earnings results on Tuesday, March 26th. The technology company reported ($0.15) earnings per share for the quarter. The business had revenue of $28.26 million for the quarter. WidePoint had a negative return on equity of 25.50% and a negative net margin of 3.82%.

Hedge Funds Weigh In On WidePoint

Several institutional investors have recently modified their holdings of the company. UBS Group AG bought a new position in WidePoint in the 1st quarter valued at about $29,000. Citadel Advisors LLC grew its position in WidePoint by 121.1% in the 3rd quarter. Citadel Advisors LLC now owns 13,577 shares of the technology company’s stock valued at $29,000 after buying an additional 7,437 shares in the last quarter. Susquehanna International Group LLP bought a new position in WidePoint in the 1st quarter valued at about $25,000. Renaissance Technologies LLC bought a new position in WidePoint in the 2nd quarter valued at about $37,000. Finally, Dimensional Fund Advisors LP grew its position in WidePoint by 27.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 43,483 shares of the technology company’s stock valued at $79,000 after buying an additional 9,377 shares in the last quarter. Institutional investors own 22.60% of the company’s stock.

About WidePoint

WidePoint Corporation provides technology management as a service (TMaaS) to the government and business enterprises in North America and Europe. It offers TMaaS solutions through a secure federal government certified proprietary portal and secure enterprise portal that provides ability to manage, analyze, and protect communications assets, as well as deploys identity management solutions that provides secured virtual and physical access to restricted environments.